If you are like many other entrepreneurs, you are working a day job to cover the bills until your creative business takes off, love the creative process and are seeing quite success with your small business.
How do you know when it is time to leave your day job and begin working in your own business full time? Here are some hints.
- You are making as much or almost as much money in your creative business as you are in your day job. If you’ve built your business to the point where you could pay your bills and earn a modest living, it might be time to make the switch.
- You’ve saved for the next 3-6 months. If you’ve been able to save some money for emergencies or slow periods in your business, you are probably ready to work for yourself full time. You’ve proven that you can think ahead and you have a cushion for when times aren’t so profitable.
- You’ve built a supportive network of family, friends and fellow entrepreneurs. You have someone to bounce ideas off of and someone who will either lend a hand or drop by with a hot dinner when your business is booming and you don’t have time to shower much less eat a real meal.
- When you realize that you are proud to answer that “what do you do” question. If you were embarrassed to tell people that you were working retail or in fast food but you relish the thought of telling someone that you create handmade jewelry, you might be ready to make the leap.
- If you are willing to take a risk on you, your happiness and your freedom you might be ready to say, “I’m a business owner” or “I’m an artist” or “I’m a writer” and make that the way you make your living.
- You have all of the technical aspects nailed down. Need an accountant, business plan, license or permit to run your business? Once you have all of the technical aspects taken care of you are well on your way.
- You an think of quitting your day job in a confident, calm and unemotional way. Don’t quit your day job in a fit of anger or because you are going through a rough time. Turn in your notice is when you are cool, calm and collected. Make sure you’ve thought everything out, made your plans and are well on your way.
It’s not easy to make the break and begin working for yourself. After all, that steady paycheck is pretty handy! However, there will come a time when you can no longer do both – or don’t WANT to do both. Then you will have to decide.
Have you made the break? How did you know it was time to leave your day job?
By: Vicki O’Dell, The Creative Goddess